In California, school districts and community college districts that wish to issue general obligation bonds usually require a two-thirds (approximately 66.67%) approval vote during an election. Elections to approve general obligation bonds by a two-thirds vote can be held on most any Tuesdays. In 2000, California's voters passed Proposition 39, which lowered the voter approval threshold for school district and community college district general obligation bonds from two-thirds voter approval to 55% voter approval. Once authorized, general obligation bonds can be issued (e.g., sold to an underwriter for later resale). However, before issuing a general obligation bond authorized under the Proposition 39 procedures, the bond must meet certain criteria.